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United States · Bill · HR

H.R. 5257 (96th)

A bill to amend the Internal Revenue Code of 1954 with respect to the tax treatment of interest on certain short-term nonnegotiable certificates of deposit.

referredUnited States· United States Congress· EN

Introduced

12 September 1979

Last action

12 September 1979 · Introduced

Status

Referred to House Committee on Ways and Means.

Sponsors

Rep. Hinson, Jon C. [R-MS-4], Rep. Bedell, Berkley W. [D-IA-6], Rep. Burgener, Clair W. [R-CA-43], Rep. Coelho, Anthony Lee [D-CA-15], Rep. Collins, James M. [R-TX-3], Rep. Daniel, W. C. (Dan) [D-VA-5], Rep. Dornan, Robert K. [R-CA-38], Rep. Erdahl, Arlen [R-MN-1], Del. Fauntroy, Walter E. [D-DC-At Large], Rep. Fazio, Vic [D-CA-4], Rep. Frenzel, Bill [R-MN-3], Rep. Hance, Kent R. [D-TX-19], Rep. Hughes, William J. [D-NJ-2], Rep. Lagomarsino, Robert J. [R-CA-19], Rep. Leach, Claude (Buddy), Jr. [D-LA-4], Rep. Lott, Trent [R-MS-5], Rep. Marriott, David Daniel [R-UT-2], Rep. Montgomery, G. V. (Sonny) [D-MS-3], Rep. Marks, Marc L. [R-PA-24], Rep. Mottl, Ronald M. [D-OH-23], Rep. Neal, Stephen L. [D-NC-5], Rep. Stanton, J. William [R-OH-11], Rep. Whittaker, Bob [R-KS-5]

Subjects

Discovery layer

Source updated

7 February 2024

Official sourceView documentsShare

Summary

Amends the Internal Revenue Code to provide that interest earned on a nonnegotiable time deposit certificate which has a maturity of one year or less will not be treated as received or accrued until the earlier of its maturity date or the date on which it is redeemed. Excludes such certificates from classification as a discount instrument of indebtedness.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 12 September 1979

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 12 September 1979

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 12 September 1979

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

Sponsors

Related records

No cross-record relationships stored yet.

Sources

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